Touch ‘n Go Group today launched GOpinjam, a digital personal loan service accessible through the Touch ‘n Go eWallet app. The new service is the first time a digital lending solution is being offered by TnG eWallet, having previously introduced financial service propositions in investments (GO+) and insurance.
Developed in partnership with CIMB Bank Berhad, GOpinjam is supported by CIMB’s e-Zi Tunai Personal Loan, offering personal loans from as low as RM100 to a maximum of RM10,000, to users aged 21 to 63 years old.
The repayment period for these loans can range from one week to one year, with no hidden fees or early settlement charges. Fixed interest rates do apply, and they vary from 8% to 36% per annum, depending on the loan tenure.
It should be noted that potential borrowers will require a minimum monthly income of RM800 to gain access to GOpinjam. First-time users who wish to apply will need to submit either a one-month payslip or latest EPF statement along with some basic information for the loan application.
As for returning users, the process is simpler, requiring only verification of the application info (taken from the previous application). Once an application is approved, users will be notified through the TnG eWallet app and the funds will be disbursed either into their e-wallet or CIMB bank account.
The entire process is done digitally through the app, so there’s no need to visit a bank counter. Users can also apply for more than one loan under GOpinjam, so long as each loan amount does not exceed the cap of RM10,000.
“This is a true market first. We researched the landscape thoroughly before building GOpinjam and I feel we’ve come up with a proposition that delivers significant value to our users, at the same time address the pain points of current personal lending propositions,” said Effendy Shahul Hamid, CEO of Touch ‘n Go Group.
“The financial inclusion element was always at the forefront of our thinking, and we expect GOpinjam to be available to those who otherwise would not have been able to access formal credit facilities,” he added.
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Don’t have much faith on a company that forced their way to launch their lousy RFID product to your throat.
It is okay. You can stay at home and wallow without ever having the need to interact with TNG products. The rest of us move on and embrace a cashless future.
then f..k off
B40 behaviour
At 36% interest rate, this is Ah Long in the form of digital means……..lol
Interest rates that can challenge the Ah Longs haha
Ah long goes digital.
T&G digital is actually Alipay in Malaysia. It’s using Alibaba’s infrastructure for financial payments and almost all e-wallet transactions are very smooth. However, RFID is a technology from another supplier altogether including the RFID receivers at the toll booths which are very problematic.
Majority of KL ppl now are from kampung. They moved to KL and wanna mimic KL living style because they thought local KL ppl spend a lot. Thanks to these face envy kampung ppl KL shops and coffee shops are booming with money, these KL bosses are increasingly rich but spend almost the same. So you see more and more BMW and Mercedes’. Personally I think most lux car are local KL owner. Most Myvi and proton are kampung owner. The kampung ppl habis duit and start borrow. When bank deny them they go personal loan official or grey market. Then they become the b20 with huge debt young or old. Then the income gap widen. And start to complain. But they still wanna buy a lot Perodua and proton, so KL jam jam jam like hell. After few decade, they either live pathetically spending gov tax payer money or return to kampung. And the next fresh round begin again.
Blacklist can apply? Feedbck pls..tq
I would like to apply for the loan
36%!